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Makes specialty polymer formulations, colorants and engineered materials for plastics manufacturers across industries.
Makes specialty polymer formulations, colorants and engineered materials for plastics manufacturers across industries.
Sells small-batch customised colour concentrates, additives and engineered plastics, priced for the formulation rather than the resin, so margin comes from service and know-how. It was reshaped by buying Clariant's masterbatch business in 2020 and DSM's Dyneema fibre business in 2022.
Moat: narrow (process know-how, customer qualification). Custom formulation know-how and long-standing customer qualifications, though facing commodity resin price pressure.
Headquarters: Avon Lake, Ohio, US · Founded: 2000 · Employees: 9,000
Size Avient (AVNT) is a United States Materials company (Chemicals: Major Diversified) with a market value of $4.17B, the 1322nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $45.47 on 6 Nov 2026.
Performance Over six months the shares gained 23.3%, against -9.2% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 5.2% over the last twelve months (peer median +6.0%); the operating margin is 10.5% (peer median 6.8%).
Valuation It trades at 13.0× forward earnings against a peer median of 16.7× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.0 points below its cost of capital (9.3% WACC).
Credit Avient has 2 bonds outstanding ($1.38B), rated BB- by the agencies and trading like BBB at a weighted spread of 126 bp.
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.42B | $3.26B | $3.24B | $3.14B | $3.40B |
| Revenue growth | — | +1% | +3% | -7% | — |
| Gross profit | $1.10B | $1.03B | $1.02B | $903M | $906M |
| EBITDA | $554M | $459M | $514M | $480M | $471M |
| Net income | $180M | $81.9M | $170M | $75.7M | $153M |
| Free cash flow | $239M | $191M | $135M | $79.9M | $293M |
| Capital expenditure | $109M | $107M | $122M | $119M | $106M |
| Total debt | $1.83B | $2.00B | $2.15B | $2.14B | $2.24B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Avient AVNT | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% |
| Clariant CLN.SW | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% |
| Hexpol HPOL-B.ST | $3.30B | +28% | -1% | 14% | 15.6× | 3.1% |
| Celanese CE | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% |
| Cabot CBT | $3.67B | -17% | +1% | 14% | 10.9× | -3.2% |
| Kingfa Sci. & Tech 600143.SS | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AVNT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.0% | -11.5% | highest of 21 |
| 6-month return | +23.3% | -9.2% | 3rd highest of 21 |
| Distance from 52-week high | -7.4% | -32.3% | 2nd highest of 21 |
| Revenue growth (TTM) | +5.2% | +6.0% | 11th highest of 21 |
| Operating margin | 10.5% | 6.8% | 7th highest of 21 |
| Forward P/E | 13.0× | 16.7× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 9.9% | 9.4% | 6th most demanding of 13 |
| Growth delivered (Del g) | +0.1% | +7.3% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | +9.8 pp | +2.4 pp | 5th most demanding of 13 |
| ROIC minus cost of capital | -2.0 pp | -1.9 pp | 11th highest of 21 |
| EV / EBITDA | 10.0× | 9.7× | 6th cheapest of 11 |
| Net debt / EBITDA | 2.5× | 1.8× | 6th most indebted of 12 |
| Bond spread | 126 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avient AVNT | United States | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% | +0.1% |
| Hubei Xingfa Chemicals 600141.SS | China | $4.19B | -27% | +4% | 8% | 15.3× | n/a | n/a |
| Mitsui Chemicals 4183.T | Japan | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% | +6.6% |
| Johnson Matthey JMAT.L | United Kingdom | $4.01B | +14% | +8% | 3% | 13.3× | 9.6% | -4.0% |
| Wacker Chemie WCH.DE | Germany | $4.42B | -24% | -5% | -1% | 33.0× | n/a | n/a |
| Perimeter Solutions PRM | United States | $4.83B | -7% | +24% | -51% | 18.3× | 36.6% | +14.0% |
| Kuraray 3405.T | Japan | $3.52B | +14% | +3% | 7% | 15.0× | -0.2% | +8.3% |
| Kingfa Sci. & Tech 600143.SS | China | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% | +13.3% |
| Arkema AKE.PA | France | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% | +2.8% |
| Tokyo Ohka Kogyo 4186.T | Japan | $5.03B | -30% | +22% | 21% | 17.8× | 19.9% | +15.1% |
| Grandit 688549.SS | China | $2.89B | +36% | +40% | -1% | n/a | n/a | n/a |
| CES Energy Solutions CEU.TO | Canada | $2.82B | +4% | +11% | 10% | 14.1× | 9.2% | +22.9% |
| Ecopro 086520.KS | South Korea | $6.55B | -57% | +11% | 9% | 31.5× | n/a | n/a |
| Element Solutions ESI | United States | $7.61B | -29% | +40% | 14% | 15.0× | 16.6% | +6.6% |
| Nippon Shokubai 4114.T | Japan | $2.27B | +11% | +4% | 6% | 16.2× | 4.1% | +7.9% |
| Hubei Sinophorus Electronic Materials 688545.SS | China | $2.24B | +11% | +75% | 11% | 68.3× | n/a | n/a |
| Aether Industries AETHER.NS | India | $2.20B | +29% | +31% | 25% | 72.6× | n/a | n/a |
| Ingevity NGVT | United States | $2.07B | -21% | -12% | 25% | 10.4× | -0.9% | -0.8% |
| Eternal Materials 1717.TW | Taiwan | $2.06B | -27% | -2% | 5% | 17.2× | 19.9% | +1.2% |
| Zhejiang Yongtai Technology 002326.SZ | China | $2.04B | -40% | +38% | 11% | n/a | n/a | n/a |
| Qingdao Huicheng Environmental Technology 300779.SZ | China | $2.02B | -9% | -13% | 5% | 129.3× | n/a | n/a |
Avient has 2 bonds outstanding with $1.38B face value. The agencies rate it BB-; its bonds trade like BBB. Weighted yield 5.73%, a spread of 126 bp over government bonds.